Jul 6, 2026
A South Australian renewable energy firm, Zen Energy, which was co-founded by economist Ross Garnaut, has gone into voluntary administration after failing to secure a buyer for its retail operations.
The company pointed to ongoing instability in wholesale electricity prices as the key commercial factor behind its collapse.
On 3 July, Rob Smith and Jason Preston, restructuring partners at McGrathNicol, were named joint administrators for Zen Energy and its affiliated entities. They have initiated a rapid evaluation of the business and are communicating with staff, regulators, clients, and other interested parties.
Smith stated that the administrators are actively collaborating with major…